Karachi, August 31, 2015 (PPI-OT): The Lasbela Chamber of Commerce and Industry (LCCI) has strongly opposed the 6 per cent withholding tax on turnover of services sector. The President, LCCI, Yakoob H Karim in a statement said that the present government on the behest IMF is imposing frequent taxes and levies on business community without considering the consequences of these unjustified and uncalled-for decisions that badly damaging the national economy.
The government is now must come out of the regime of advanced taxes after fully implementation of sales tax. He said that an additional eight percent withholding tax on turnover of the services sector would result an unbearable effect on industry and extremely hurt Pakistan’s exports.
“The exports are already falling alarmingly while industry in extreme pressure due to unbearable cost of doing business and tough competition from the competitors in the region, the present government is even making fierce anti-industry and anti-export decisions”, he said adding that tax should always be on income and not on the revenue.
He pointed out that 0.3 per cent withholding tax imposed on the small traders had already made uproar across the country and matter was not settled down the government has given another major blow to the business community which has already decided to go on strike against the anti-economy decisions by the government. Yakoob has earnestly demanded of the high ups in Islamabad to immediately withdraw all taxes and levies that have been declared unjustified and uncalled-for by the business community.
For more information, contact:
Public Relations Officer
Lasbela Chamber of Commerce and Industry (LCCI)
Lieda Office Building,
Hub Distt., Lasbela
Tel: +92-85-3303410, +92-85-3304461
Email: firstname.lastname@example.org, email@example.com